Archive for January, 2024

With capital levels increasing in the global reinsurance industry and interest rising in reinsurance as an asset class, be that in insurance-linked securities (ILS) or other forms, rating agency Fitch has said it believes the market will soften again in 2025.

Despite a costly end to the 2023 calendar year from severe weather and catastrophes, Australian insurer Suncorp has said that the full limits remain available from all of its private reinsurance coverage.

Here are the ten most popular news articles, week ending January 28th 2024, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Presenting to the Florida House Insurance and Banking Subcommittee yesterday, Tim Cerio, the CEO of Citizens Property Insurance Corporation, said that depopulation efforts are expected to accelerate this year, while the ultimate goal is to reduce the policycount to around 400,000.

Despite some obvious limitations which can be overcome, 2023 will be remembered as the year when cyber insurance-linked securities (ILS) became a reality, with further developments expected in the year ahead, according to Jose Seara and George Mawdsley of DeNexus.

There are now only two weeks left until our upcoming insurance-linked securities (ILS) conference. ILS NYC 2024 will be held in New York City on February 9th 2024 and spaces are now running low, so please register soon if you want to join us.

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance or reinsurance business, has completed a novel trade on a California water price index, executing a call spread option that can help parties hedge against adverse movements in the price of water.

Brazil’s regulations for “Letra de Risco de Seguro”, or LRS which translates to Letter of Insurance Risk and are effectively insurance-linked securities (ILS) laws, have passed a key hurdle and been approved by its National Monetary Council.

GeoVera Insurance Holdings, Ltd., a specialty earthquake-focused residential property insurance company, is now aiming to secure an upsized $175 million or more in US earthquake reinsurance via its new Veraison Re Ltd. (Series 2024-1) catastrophe bond issuance.

Insurance and reinsurance broker Aon expects the industry faces hundreds of millions in losses from recent windstorm events in Europe, as well as winter storms and severe weather in the United States.